Australian news and politics.

[JS96]

Seems like Fear of missing out has been replaced by fear of paying too much.

Most definitely. My parents are going to move into my nan's place after putting in extensions and renovating and the previous family home had gone from should be sold to might be sold. Just middle class who worked so hard and have benefited from the market jump but also the annoyance of selling for a bit less.

People who've owned for years and have a high value property with a viable alternative should take a small hit as they're still way ahead.

Was on the Gold Coast and old mate burning hundreds on roulette was moaning to the dealer about CGT when he bought the place for a Mars bar and chocolate button in 1977.

 

[Alex M]

Was on the Gold Coast and old mate burning hundreds on roulette was moaning to the dealer about CGT when he bought the place for a Mars bar and chocolate button in 1977.

Old mate had an asett that was previously cgt exempt (provided its an investment property and not his home). Now he will have to pay for a valuation on it and pay a small amount of tax on any gain earned from July 1 2027. Hopefully the valuation cost is claimable against something, either the income from the year or added to the capital value.

 

[Keeper66]

Old mate had an asett that was previously cgt exempt (provided its an investment property and not his home). Now he will have to pay for a valuation on it and pay a small amount of tax on any gain earned from July 1 2027. Hopefully the valuation cost is claimable against something, either the income from the year or added to the capital value.

Has the government actually stated what the situation with pre-1983 assets is under their proposed new CGT regime? Pre-83 assets are currently exempt from any CGT.

 

[Alex M]

Has the government actually stated what the situation with pre-1983 assets is under their proposed new CGT regime? Pre-83 assets are currently exempt from any CGT.

Yes it was announced in the budget. It's actually pre 85 assetts that are now covered but only starting on July 1 2027. Any gain up to that point remains tax free.

 

[Sharkman84]

Employment Minister Amanda Rishworth has dismissed criticism of Australia’s capital gains tax after New Zealand Prime Minister Christopher Luxon spectacularly claimed it was “a wrecking ball tax” he would never introduce.

Labor responds to NZ ‘wrecking ball’ tax swipe

A leading Labor minister has responded after New Zealand Prime Minister Christopher Luxon claimed the CGT was a ‘wrecking ball tax’.

thenightly.com.au

 

[Sharkman84]

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as “a good thing”.

Treasurer’s Budget lament: Good thing, where have you gone?

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as ‘a good thing’.

thenightly.com.au

 

[Sharkman84]

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

Shock update in DiDi driver sexual assault case

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

thenightly.com.au

 

[Keeper66]

Yes it was announced in the budget. It's actually pre 85 assetts that are now covered but only starting on July 1 2027. Any gain up to that point remains tax free.

Sorry, yes it was 1985. Thanks for replying.

 

[Football us life]

0

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

Shock update in DiDi driver sexual assault case

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

thenightly.com.au

Without sounding like a "leftie-simp" and turning the entire situation into one of these culture-war talking points.....


When a horrific crime like this occurs, the public conversation naturally spikes, and the immediate impulse is to look for a single point of failure whether that’s the gig economy platforms, the immigration department, or the tribunal system. The reality, is that we are looking at a complex intersection of multiple systems, none of which are completely airtight.

This kind of crime highlights critical gaps in the system – Fixing this requires operational tightening and strict platform accountability, but not political polarisation.

If this exact scenario happened in the UK, it would be a tailor-made, front-page moment for Nigel Farage and Reform UK to dominate the news cycle.

I think Australia’s political climate handles these flashpoints differently. Instead of a single "firebrand" taking over the mic, it's usually a more considered response. Australians generally have a low tolerance for the theatrical!!!

 

[JS96]

0

Without sounding like a "leftie-simp" and turning the entire situation into one of these culture-war talking points.....


When a horrific crime like this occurs, the public conversation naturally spikes, and the immediate impulse is to look for a single point of failure whether that’s the gig economy platforms, the immigration department, or the tribunal system. The reality, is that we are looking at a complex intersection of multiple systems, none of which are completely airtight.

This kind of crime highlights critical gaps in the system – Fixing this requires operational tightening and strict platform accountability, but not political polarisation.

If this exact scenario happened in the UK, it would be a tailor-made, front-page moment for Nigel Farage and Reform UK to dominate the news cycle.

I think Australia’s political climate handles these flashpoints differently. Instead of a single "firebrand" taking over the mic, it's usually a more considered response. Australians generally have a low tolerance for the theatrical!!!

What I hate is, try to start any type of business and the regulations strangle you. These rider apps and places like airbnb seem to circumvent any stringent requirements while the authorities are playing catch up. Ill paint the word taxi on the side of my car and turn my second home into a hotel. My booking portal? Whatsapp!

 

[Sharkman84]

 

[Football us life]

What I hate is, try to start any type of business and the regulations strangle you. These rider apps and places like airbnb seem to circumvent any stringent requirements while the authorities are playing catch up. Ill paint the word taxi on the side of my car and turn my second home into a hotel. My booking portal? Whatsapp!

No, I'm not mad about the 'gig economy' myself. Rarely use uber or any of the other stuff....

 

[patjennings]

Employment Minister Amanda Rishworth has dismissed criticism of Australia’s capital gains tax after New Zealand Prime Minister Christopher Luxon spectacularly claimed it was “a wrecking ball tax” he would never introduce.

Labor responds to NZ ‘wrecking ball’ tax swipe

A leading Labor minister has responded after New Zealand Prime Minister Christopher Luxon claimed the CGT was a ‘wrecking ball tax’.

thenightly.com.au

They basically have one already - If you buy shares, crypto, or property with the primary intention of selling them for a profit (rather than holding them for long-term dividends or use), those profits are treated as regular income and are subject to income tax.

 

[Toebash]

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as “a good thing”.

Treasurer’s Budget lament: Good thing, where have you gone?

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as ‘a good thing’.

thenightly.com.au

Fucking hell I knew Paul Murray was a moron, but that article was something else.

 

[Toebash]

When it comes to highly emphasising political/ecological ideologies like the push for renewables and the pursuit of "Net Zero" I'm generally in favour of progress..

However whichever way you look at it global net zero by 2050 looks impossible. Renewables struggle with intermittency, grids, materials, and scale. Historical transitions took decades meaning this requires unprecedented acceleration and is highly unlikely without major technological breakthroughs.

Pragmatic progress on tech, nuclear, and adaptation beats performative timelines trotted out by policymakers....

Net zero in Australia, or something extremely close to it, doesn't look impossible at all.

All of the issues you've identified are solvable problems because of the extreme cost-reduction in battery technology. Australia's grid is almost 50% renewables now and that percentage is increasing at about 5% a year, so by the mid-2030s we'll be almost there. EVs are now more or less at price parity with ICE vehicles as well.

 

[Sharkman84]

It’s a political football. It’s also the only thing saving us from economic oblivion.

The simple truth at the heart of Australia’s population debate

It’s a political football. It’s also the only thing saving us from economic oblivion.

thenightly.com.au

 

[Sharkman84]

EDITORIAL: A flat economy, low growth and the spectre of a per capita recession is weighing heavily on the minds of hardworking Australians.

Pivot to One Nation shows a hunger for change

EDITORIAL: A flat economy, low growth and the spectre of a per capita recession is weighing heavily on the minds of hardworking Australians.

thenightly.com.au